Bayer Garden sold to SBM Développement
Bayer Garden and Bayer Advanced provide home and garden solutions for hobby gardeners and homeowners. SBM is active in the home and garden market in France and develops, formulates and produces crop and non-crop solutions for professionals and consumers.
“For SBM, the acquisition of the Bayer Garden and Bayer Advanced businesses represents a major milestone in our journey toward global leadership in the consumer home and garden industry,” said Jean-Paul Simmler, chairman of SBM. “We are committed to growing these businesses over the long-term by providing customers in Europe and the U.S. with an innovative range of solutions that leverages the strengths of both SBM and Bayer.”
“In SBM, we’ve found a strategic acquirer that can provide the Bayer Garden and Bayer Advanced businesses and people with a long-term vision and perspective to reach their full potential,” remarked Dr. Jacqueline Applegate, Head of Environmental Science and Member of the Crop Science Executive Committee. “At the same time, divesting the Consumer business will enable Environmental Science to become even more growth-oriented and strengthen our market leadership position with a single-minded focus on the unique needs of our professional customers.”
Through the acquisition of the Bayer Garden and Bayer Advanced businesses, SBM will significantly expand its footprint in Europe and enter the strategic North American market.
The transaction is expected to close in October 2016, at which time all employees holding one of the almost 250 positions dedicated to the Bayer Garden and Bayer Advanced businesses in Europe and North America will transfer to SBM, provided all necessary regulatory approvals and customary closing conditions are fulfilled. Until the closing, Bayer Garden and Bayer Advanced will continue to operate as part of Bayer, with no impact on their ongoing business operations or product portfolios as a result of the pending sale.
At the closing, the entire product portfolios of Bayer Garden and Bayer Advanced, as well as all their current R&D projects, will transfer to SBM.
For more information:
www.bayer.com
sbmdeveloppement.com/en